Ubisoft and Arbitrum are launching a Web3 shooter game, Captain Laserhawk, on December 18th. 

Daily Top Performer — Sui Network (SUI)

The S&P 500 rose 0.82%, boosted by positive inflation data. Investors are now looking ahead to producer inflation data and earnings reports. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 6.02%, with Bitcoin and Ether rising by 5.11% and 5.41%, respectively in the past 24 hours.

Today's top performer is SUI, which surged 30.9% after Backpack announced a partnership with Sui to expand its crypto ecosystem.

Sui Network (SUI), launched on May 3, 2023, is a Layer 1 blockchain designed by Mysten Labs to enhance web3 functionality and scalability, focusing on smart contract efficiency and NFT gaming development. The project is led by former Meta executives from the Novi digital wallet team. 

, a popular crypto exchange and wallet. This collaboration aims to enhance the user experience for both platforms, providing Sui users with a reliable wallet solution and expanding Backpack's user base to include Sui enthusiasts.

Check Out the Latest Prices, Charts, and Data of 

Ubisoft and Arbitrum are launching a Web3 shooter game, 

, on December 18th. 1  The game will feature characters from various Ubisoft franchises and will utilize NFTs and blockchain technology on the Arbitrum network. 2  This launch signifies a step forward in Web3 gaming, with growing interest and investments in the sector. 

Yesterday, the total inflows into Bitcoin spot ETFs reached $223.1 million. Grayscale Bitcoin Trust (GBTC) saw inflows of $20.1 million, while other non-GBTC funds attracted $203.0 million. 

If you received the FRAME airdrop in December 2023, you're likely eligible for an 

 on the Abstract chain. The FRAME allocation has been integrated into Abstract's loyalty system, suggesting similar qualifications for both airdrops.

Beginner

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Ubisoft and Arbitrum Team Up for Web3 Shooter Launch

In our latest Learn 101 livestream session, we gathered an esteemed panel of crypto experts to do a bull run breakdown.

Recently, Bitcoin reached a monumental milestone by passing the $100,000 barrier. This highly anticipated event bolstered crypto wallet balances, but at the same time, it leaves some investors and traders wondering how long the rally will continue — and what’s fueling it.

, provides a recap of our Learn 101 livestreams, offering you comprehensive expertise and insights from leading figures in the crypto industry in case you miss the livestream.

Joining the livestream on Dec 6, 2024, were three distinguished guests: Eamonn Gashier, Founder and CEO of Block Scholes; Andrew Melville, Head of Research at Block Scholes; and Echo Peng, Bybit Earn Product Manager. Under the moderation of Sabrina Chua, Crypto Evangelist and SEO Editor at Bybit, this episode explores the Bull Run Breakdown.

Pulse of the Market — What's Fueling the Surge?

In the first segment, Andrew Melville points out that crypto has steadily become part of the broader macro asset class, with institutional investors gaining easier access through products such as 

. This shift has increased crypto's correlation with U.S. equities. Back in 2020 crypto activity surged, but it was largely driven by retail investors stuck at home during COVID-19 lockdowns, who had more time to explore this space.

Despite Ethereum’s underperformance over the past few years, Andrew notes that Bitcoin spot activity has been unexpectedly strong. He believes that Ethereum and other 

 cryptos could outperform in the current market, especially given broader trends such as the influence of elections on the crypto space. These crypto assets are increasingly being viewed as solid long-term investments.

Eamonn Gashier describes today’s market sentiment as strongly bullish, noting that this cycle feels different from past ones. He calls it a "perfect storm" driven by 

, easing of monetary policy and the introduction of crypto ETFs. While Bitcoin typically leads during such cycles, new dynamics — such as the sharp turnaround in U.S. crypto sentiment — make the crypto market’s trajectory harder to predict.

The usual pattern, in which altcoins rally as Bitcoin cools, is also less clear. Eamonn highlights the fact that institutional buyers stepping in during Bitcoin dips have helped stabilize its price, making it less likely that money will flow into altcoins as before. He remains optimistic about crypto’s upward trend, but acknowledges that the market is still figuring out its value, which adds an element of uncertainty.

Echo Peng shifts the focus to stablecoins, which have hit an all-time high in market cap. 

, for example, is gaining traction, sitting just behind USDT and USDC and offering up to 29% returns. She advises investors to diversify their stablecoin portfolios, and mentions that platforms such as Bybit provide opportunities to profit during a bull run, including options like mining and 

Deep Dive Into the Top Trending Coins In the Past Month — Analyzing Current Giants

XRP recently surpassed Solana and USDT in market cap, driven in part by speculation surrounding a potential XRP ETF. Andrew Melville views XRP’s prospects as highly promising, noting that coins previously held back by SEC scrutiny are now making significant comebacks. He describes how these developments reflect the broader evolution of stablecoins and the democratization of access to the U.S. dollar. However, Melville acknowledges that stablecoins lack the high returns that institutional investors typically seek.

Eamonn Gashier shares insights on the impact of Bitcoin Spot ETFs, observing that Bitcoin initially experienced a bullish run before leveling off as the market became saturated. A similar trajectory was expected for Ethereum Spot ETFs, but their delayed response has only begun to manifest in recent weeks.

Gashier notes that the evolution of coins such as XRP has been surprising, and has sparked a surge in 

 trading. The market is currently navigating both price discovery and utility discovery. For instance, if new utility is found for XRP, it could drive an unexpected price surge. He also points out that XRP is widely used in several countries, where it addresses gaps in the utility of local currencies.

Echo Peng shifts the conversation to the challenges cryptocurrencies face in attracting retail users. She highlights Telegram as a game-changer, emphasizing its simplicity and efficiency since it eliminates the need for app downloads. Other social platforms, such as TikTok and X/Twitter, are also key drivers of user engagement, showcasing the way social media has become central to crypto adoption.

Andrew Melville adds that other cryptocurrencies, such as Sui (SUI) and Solana (SOL), offer distinct utilities, particularly in the 

 space — an area where some projects fall short. Solana in particular has seen renewed demand during the current bull run, which could strengthen its position against competitors in the long term.

As for Dogecoin (DOGE), Melville notes that its growth is currently limited by market fundamentals. He highlights factors shaping its market, such as improvements in price discovery mechanisms and declining volatility. These trends are also apparent across many altcoins, which now feature increasingly vibrant 

, reflecting their maturation as financial instruments.

Strategic Playbook — Maximizing Returns During the Rally

Derivatives serve as a crucial safeguard in volatile markets. Gashier explains that tools like options and futures act as a form of insurance, enabling investors to hedge against potential losses. For instance, long-term investors such as pension fund managers typically avoid selling during strong markets. Instead, they purchase 

 to lock in profits while maintaining their positions.

 in the crypto ecosystem. These instruments offer the potential for higher yields by leveraging optionality based on market outlooks. For example, by writing a 

, investors can earn yields on their holdings. Although relatively new to the crypto space, structured products are gaining traction, and Gashier is optimistic about their expansion over the next couple of years.

Melville adds a reminder to balance returns with 

. Diversification, he emphasizes, is key to mitigating exposure. While options are a valuable tool for managing risk, he points out that there are various other strategies available. Investors and traders should explore and adopt solutions that align with their unique goals and risk tolerance.

This session of the Learn 101 livestream effectively highlighted the Bull Run Breakdown. With several new factors influencing the bull run, this is an exciting time for investors and traders.

Intermediate

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Learn Live ICYMI: Bull Run Breakdown

Get started with Bybit trading competition at ease & never miss out on any opportunities to win bonuses and rewards!

The benefits you gain from joining trading competitions are boundless. You can make money, hone your trading skills, explore untried strategies and so much more. Bybit hosts a plethora of trading competitions, from small but frequent product-specific competitions held once a month or bimonthly to annual grand events like the 

 (WSOT) competition. These contests are a perfect avenue to help you reap profits, regardless of the market condition. 

With so many types of competitions, you may need more clarification on what types you’re eligible to join and what kind of rewards you can gain from them. With this handy guide, you’ll wonder no more as we break down the nitty-gritty of participating in Bybit's trading competitions.

With all its varying products, Bybit has many different kinds of competitions, ranging from 

. Regardless of the type of competition, participants are usually ranked on the leaderboard based on either profit and loss (P&L, or PnL) ratio or trading volume. 

P&L refers to the total amount of revenue and costs of your trading throughout the competition. Hence, when you compete to rank for P&L, you're competing to show how profitable you are.

P&L (%) = (Profit / Initial Equity + Total Deposits) * 100%

If you have the same P&L% as another participant, your total trading volume will then determine your ranking.

Trading volume measures the total number of contracts or crypto traded during the competition. If you achieve the same trading volume as another competitor, you’ll then be ranked based on the time you took to reach that trading volume. 

Benefits of Joining a Crypto Trading Competition

Participating in a crypto trading competition offers numerous benefits to uplift your trading journey. These competitions bring exciting rewards that can increase your gains during a bull market, or offset your losses and reignite your motivation to seek financial gains during a bear market. Moreover, the experience gained from live trading is invaluable, surpassing theoretical knowledge. Competitions provide real-life insights, opening your eyes to new opportunities.

Competing also inspires you to explore innovative trading strategies, going beyond your comfort zone and potentially yielding astounding gains. Comparing your performance with other traders on a level playing field allows you to gauge your abilities and even earn coveted bragging rights if you emerge victorious.

Please be aware of several registration criteria, as they’ll affect your eligibility to join the competitions.

Depending upon the specific competition, the registration criteria will look at the amount of net assets or net equity you have in your Bybit account. But what’s the difference between net assets and net equity? Net assets are your total assets minus your liabilities, and include unrealized gains and losses, whereas net equity excludes unrealized gains and losses.

Besides net assets and net equity, other elements also come to play in influencing your eligibility to join a competition. For instance, a single user shouldn’t have more than one account. If you create multiple accounts to join competitions on Bybit, you’ll be considered a fraud and will consequently be disqualified. Furthermore, you can only participate in one competition within the same time frame, except for grand-scale competitions like WSOT and Copy Trading Fiesta that hold several events within one competition. In such cases, you’ll be able to participate in more than one event simultaneously.

While you may only open one main Bybit account, you can open up to 20 

 connected to your main account, while four Subaccounts can be used to link to your Main Account for competitions. With Subaccounts, you can now join multiple competitions simultaneously to maximize your rewards.

Similarly, Market Makers and Pro users are prohibited from joining Bybit competitions, as they’re typically institutional traders who can make use of their high trading volumes to gain an edge in the competitions.

While most Bybit competitions only specify net assets or net equity as their registration criteria, certain competitions also require a referral link or code on top of the minimum net assets or net equity amount. Through joining such competitions, you can also expect exclusive rewards not found in other competitions.

Speaking of rewards, Bybit generally offers two types of rewards for its competitions: the prize pool and lucky draw. It’s important first to ensure you’re eligible for rewards, especially for P&L-ranked competitions. Even if the competition is ranked by P&L, you’ll still need to hit a minimum specified trading volume before you qualify for rewards. 

 held in September 2024 required participants to reach a derivatives trading volume of at least $10,000,000 before they could earn any rewards.

The main reward base for Bybit competitions is the prize pool. The prize pools can consist of hundreds of thousands of USDT, or even millions of USDT, depending on the scale of the competition. For large-scale competitions like WSOT and Copy Trading Fiesta, participants can enter several events under these competitions and obtain more rewards. 

It's good to embrace a positive and encouraging mindset as you participate in trading competitions. Observe and learn from the strategies employed by other contestants to refine your own trading plan. By analyzing their moves, you can gain valuable insights and give yourself a competitive edge. Remember, however, that it's also essential to think critically and avoid blindly copying others.

Always analyze your own performance and adjust your strategy accordingly, even in short-term competitions. Also, stay informed about market events and developments that can impact your performance, as this knowledge will maximize your chances of success. With the right mindset and strategic approach, you can excel in trading competitions.

Bybit is actively organizing trading competitions to provide users with a chance to maximize rewards. Following are some of the ongoing and upcoming trading competitions on Bybit that you might consider.

Copy Trading Face-Off: Human vs. Bot, an exciting copy trading competition with a prize pool of 200,000 USDT, runs from Dec 9, 2024, 10AM UTC to Jan 8, 2025, 10AM UTC. Master Traders get to choose a squad, either Human or Bot, and their followers will automatically be assigned to the squad of the Master Trader’s choosing. 

After joining a squad, simply compete across three squad leaderboards and one individual leaderboard. If your squad dominates two out of three leaderboards, it will win — and claim 60% of the total prize pool! You can also join a side quest by voting for the winning squad to become one of the lucky 1,000 winners to share in 5% of the total prize pool. (Please 

 that each participant can only vote once.)

Bybit’s ATHUSDT Trading Competition is a derivatives trading contest with a prize pool of 800,000 ATH. Running from Dec 6, 2024, 10AM UTC through Dec 16, 2024, 10AM UTC, it’s split into two events: 

How do I know my rewards distribution status?

There will be a Bybit Announcement post regarding rewards distribution and dates.

You can only collect your rewards after a competition ends, with the waiting period ranging from one week to a month. A risk review will be conducted after each competition ends, after which the rewards will be given on the date specified in the announcement post. 

As highlighted above, creating multiple accounts to earn more rewards in competitions is considered fraudulent behavior and will lead to disqualification. Other fraudulent behaviors include 

, volume faking, market manipulation and more. Be sure to read the competition’s terms and conditions carefully to avoid getting disqualified. 

Now that you’ve learned about all the rankings, registration criteria and rewards in Bybit trading competitions, you might be eager to flex your muscles in some of them. But before you do, remember that it’s important to carefully pore over the terms and conditions to ensure you get properly reimbursed for your efforts.

We hope our tips will help your competition journey be a fun and fruitful one. May you enjoy the process and savor the sweetness of winning!

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How to Join Bybit Trading Competitions (Ultimate Guide)

Looking for a great way to maximize profits? Consider Copy Trading! Find out in this guide how to get started with Copy Trading on Bybit as a follower today.

 has long been known to be a simple and effective way for beginners to execute trades and maximize their profits without the time-consuming efforts to learn about the crypto market. Taking advantage of the expertise of 

 (MTs) has never been easier. If you’re looking to get started with copy trading as a follower, look no further. Read on for a detailed step-by-step guide on how to do so with Bybit’s 

: Before you start copy trading, you’ll first need to 

: Once your account has been set up, you would need to fund your account (Spot, Funding or Derivatives) with assets. To do so, navigate to the

 page on the top right-hand corner of the Bybit homepage. 

Choose the account you would like to top up and click on 

: You’ll be directed to your Bybit deposit address. You can choose to either scan the QR code or copy the deposit address and use it as the destination address to send funds to. Do be sure to choose the right chain types.

 in the navigation bar to enter the Copy Trading page. Here, you can filter Master Traders based on 

: To follow your preferred Master Trader, click on 

 at the bottom of the Master Trader’s card. By clicking on the card, you can view the individual MT’s portfolio for a more comprehensive understanding of their trading performance data. You can choose to copy up to 10 Master Traders simultaneously. 

— Note that the minimum investment amount is automatically set at 50 USDT, though the MT can set a higher minimum amount if they desire.

, you’ll be copying Perpetual contract trades executed by your Master Trader. If you choose 

, you’ll be copying the parameters of the Trading Bots created by the MT.

 to configure additional trade settings for copying, such as

: Once you’ve confirmed the parameter settings, check the 

In this window, you can also see the Master Trader’s performance and the profit-sharing ratio, which varies according to the Master Trader’s level. If the profit sharing ratio is 10%, it means that Followers will need to share 10% of their profits with the MT.

Once you’ve started following a Master Trader, you can head to the 

page and further configure your settings to boost your 

. Some examples of settings you can edit include stop loss and take profit, switching your 

 settings and increasing or reducing investment. You can also close your positions, stop your copying of the MT or manually terminate your bots via the 

To explore more about editing your copy trade settings and closing positions, click 

Copy trading can be a great way for traders to maximize their profits, especially since it’s automated. You may even be able to pick up new tips and tricks from following Master Traders. As long as you do your proper research on the Master Traders and you’re well aware of the risks associated with 

, you should be on your way to becoming a more successful and profitable trader. Get started with 

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How to Get Started with Copy Trading (Followers)

Bybit Learn

Crypto Insights

blockscholes

Our monthly option volatility report delves into insights from options volatility to inspire your next crypto move.

Intro to Volatility Report Dec 2024

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Please check out the report’s highlights.

Option volatility outlines a compelling narrative for Bitcoin as it approaches the $100K milestone. Leading up to the U.S. election on Nov 5, 2024, Bitcoin's implied volatility experienced a dramatic surge, with short-term implied volatility rising approximately 25 percentage points above post-election expirations. This spike indicated strong bullish positioning in the derivatives market as traders sought to capitalize on anticipated price movements driven by electoral outcomes.

In the immediate aftermath of the election, there was a sharp decline in short-term volatility, aligning with a rally in spot prices that, in turn, led to higher realized volatility. However, the decline in implied volatility didn’t reflect a long-term bearish sentiment — instead, it suggested a temporary easing of uncertainty regarding the election results. The term structure of implied volatility demonstrates a complex relationship: while short-term volatility dipped, longer-dated options remained stable above 50%.

The call/put skew indicates strong demand for bullish call options relative to bearish puts since the election, reflecting heightened upside exposure during BTC and ETH rallies. However, when BTC retraced to $91.3K, the skew shifted 6% toward puts, signaling bearish sentiment. This was inconsistent with futures markets, in which prices remained above spot levels, indicating ongoing bullishness. The skew toward OTM puts arose from increased demand for protective hedges, rather than from a lack of call interest. Ultimately, this suggests traders believe any sell-off would be temporary, supporting the idea that volatility is necessary in order for BTC to reach the $100K mark.

In contrast to Bitcoin, Ethereum (ETH) has emerged as a more consistently bullish asset in recent weeks. While both BTC and ETH exhibited similar volatility patterns immediately following the election, Ether has shown notable resilience and increased momentum, particularly in the wake of Gary Gensler's resignation. This political shift has positively influenced ETH’s market dynamics, resulting in a stronger demand for ETH options.

Ether outperformed Bitcoin during critical market events, including both the election and ETF announcements in 2024. Following Gensler's resignation, ETH gained significant traction, with traders increasingly focusing on Ethereum as a more attractive investment. This shift is evident in the significant drops in the ratio of BTC-to-ETH spot price, indicating that traders are reallocating their preferences toward ETH.

The divergence in implied volatility between BTC and ETH options further underscores this trend, as the ratio of implied volatility for ETH options has surpassed that of BTC, reflecting a stronger demand for ETH optionality. Historically, ETH has exhibited higher volatility compared to Bitcoin. This recent uptick in ETH's implied volatility reestablishes the typical pattern of ETH commanding a premium in the options market.

Moreover, the skew in options pricing has shifted in favor of calls for both BTC and ETH, but ETH's skew has remained more robust. This suggests a stronger bullish sentiment for ETH, as traders are positioning more aggressively for its price appreciation compared to that of Bitcoin. As the market continues to evolve, Ethereum's increasing dominance and the bullish signals from its options market position it as a leading contender in the cryptocurrency landscape, making it likely to outperform Bitcoin in the near future.

Bybit X Block Scholes Option Volatility Report: November Option Volatility Report: Volatility on the Road to $100K

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards